The default mechanism of post-war British economic policy was reset.

CNN: Why Britain needs another Thatcher

Why are Greece, the EU and others so scared of default when that has always been the mechanism by which those who go broke get out of that condition?

FORBES: The Grand Myth About Greek Solvency

More optimistic news in Europe included a meeting in Brussels this week in which EU leaders agreed to a crisis resolution mechanism that would give the EU an exit plan in situations of heavy debt and default.

FORBES: Magazine Article